Clutch stays down in 87 CGT

[John Larson]

It turned out to be the Clutch Master Cylinder which was replaced.

The only problem now is that when depressing the pedal...for the first 2-3
inches it seems like nothing is happening and the clutch seems to catch very
low -- almost all the way to the floor.

Is this adjustable ??

No.  Replace the slave cylinder and bleed the system.  This may or may not
be a tricky job, depending on random luck.  Many listers have found bleeding
then clutch to be a PITA.  HTH, John